Bloomberg News

Chilean Stocks: Copec, Lan, Ripley and Sud Americana de Vapores

October 06, 2011

Oct. 6 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 3:13 p.m. New York time.

The Ipsa index rose 5.1 percent to 3,889.01. The MSCI Chile index surged 7 percent to 2,096.89, its biggest gain since October 2008.

Cia. Sud Americana de Vapores SA (VAPORES CC) rose 2.4 percent to 123.88 pesos. Oscar Hasbun, CSAV’s head of container shipping, said yesterday that while results this year will be “very negative,” the shipping industry has an “attractive” longer-term outlook.

Lan Airlines SA (LAN CC) jumped 4.4 percent to 11,223 pesos, its second day of gains. Latin America’s largest airline by market value said in a statement that Spain’s antitrust regulator approved without conditions its planned acquisition of Brazil’s Tam SA.

Empresas Copec SA (COPEC CC) rose 7.5 percent to 6,500 pesos, the biggest advance in three years. Chile’s biggest pulp exporter rallied along with prices of raw materials amid speculation that European officials will contain the region’s fiscal woes.

Ripley Corp SA (RIPLEY CC) surged 11 percent to 449.73 pesos, the most in three years. The department store operator led gains among members of the Ipsa index as global stocks rose after European officials detailed plans to tame the sovereign debt crisis.

--Editor: Glenn J. Kalinoski

To contact the reporters on this story: James Attwood in Santiago at jattwood3@bloomberg.net; Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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